is buying India’s Flipkart.  continues taking to control e-commerce  compete against .  finally it official. Because giant corporation is acquiringFlipkart.

The ’s largest retailer take control soon. Of the -based e-commerce for its biggest acquisition ever, Softbank chief executive officer Masayoshi Son said in an webcast ,as per Bloomberg.

Softbank’s 20% stake in Flipkart valued at $4 billion. (Rs27,000 crore). Son said, adding that he had invested $2.5 billion in the . Son did any further of the transaction.

is purchasing Flipkart. Last night was the official announcement. I believe the deal was reached the 2.5 billion that we invested has turned out to be 4 billion.” Son said.

The acquisition may cost around $15 billion, according to a previous estimate by Bloomberg.

was also reportedly in the fray to acquire Flipkart went far enough to  a “breakup fee” of up to $2 billion to prove its seriousness. A breakup fee penalty has set during the takeover process. agreement pay if the backs out of the deal.

, Walmart managed to seal the deal and is now in a place to take the fight to in India’s e-commerce , is estimated to grow over 13 times to $200 billion by 2026.

A giant leap

The deal marks a significant milestone for Flipkart.

started in 2007 as an bookstore operating out of the Bansal duo’s - apartment in . Flipkart is now the most-valued new-age internet company in the country. With around 30,000 employees. It is also one of the highest-funded private companies in the . has a giant like Amazon a tough in India during the last five years?

An internet worth billions and backed by marquee like Softbank, Tiger Global, DST Global, and Accel Partners, among , Flipkart helped break India’s image as just the ’s .

Let the battle

Following deal, the Indian e-commerce space now become a battlefield for American behemoths: Walmart and Amazon.

The been fiercely competing against each other in the US, by acquiring smaller players. Flipkart’s acquisition widely considered as an extension of the battle.

“In the US, Walmart is the formidable competitor left for Amazon. Walmart has been growing its e-commerce operations a and Amazon has increased its footprint with physical stores,” Kartik Hosanagar, a professor of and digital at the University of Pennsylvania’s Wharton School, told Quartz last week.

“Walmart’s looming investment in Flipkart reflects that. Walmart is fighting Amazon and in through its partnership with JD. I suspect similar will happen in India through a partnership with Flipkart,” he added.